October 23, 2024 Monetary Policy Report Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision. Content Type(s): Press, Speeches and appearances, Opening statements
October 23, 2024 Bank of Canada interest rate announcement and release of the Monetary Policy Report On Wednesday, October 23, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. Content Type(s): Press, Media advisories
October 23, 2024 Monetary Policy Report—October 2024—In focus: The rise in unemployment since early 2023 has been mainly due to increased difficulty finding a job. Layoffs have not played a large role.
October 23, 2024 Monetary Policy Report—October 2024—Global economy Overall, global economic growth continues to evolve as expected. However, the composition of that growth has changed.
October 23, 2024 Monetary Policy Report—October 2024—Canadian economy—Outlook Economic growth in Canada is forecast to pick up gradually and average 2¼% over the projection. Inflation is expected to remain near the 2% target.
October 23, 2024 Monetary Policy Report—October 2024—Canadian economy—Current conditions Canadian economic activity is evolving largely as expected. Inflation is now near the middle of the Bank of Canada’s control range of 1% to 3%.
Beyond the averages: Measuring underlying wage growth using Labour Force Survey microdata Staff Analytical Note 2024-23 Fares Bounajm, Tessa Devakos, Gabriela Galassi When it comes to understanding the influence of labour costs on inflation, average wage growth is a misleading indicator because it is affected by composition effects. We propose an alternative measure that corrects for these effects by using microdata from the Labour Force Survey. Our new measure has many desirable properties, including reduced volatility and a better relationship with labour market fundamentals. Content Type(s): Staff research, Staff analytical notes Topic(s): Econometric and statistical methods, Labour markets JEL Code(s): C, C3, C31, J, J2, J21, J3, J30, J31, J8, J82
October 17, 2024 Frequently asked questions about retail payments supervision Answers to common questions about retail payments supervision.
October 17, 2024 Conference on Real-Time Data Analysis, Methods and Applications The Bank of Canada is hosting the annual Conference on Real-Time Data Analysis, Methods and Applications in Macroeconomics and Finance at its Head Office in Ottawa on October 17 and 18, 2024. Content Type(s): Conferences and workshops
October 16, 2024 Entering into a compliance agreement with the Bank of Canada This supervisory policy addresses why the Bank of Canada may offer a compliance agreement to a payment service provider (PSP), the process for entering into a compliance agreement with the Bank of Canada, and what PSPs should expect if they enter into this type of agreement. Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement